Plea of Breach of Trust not acceptable for decisions taken in normal conduct of business of a company

HIGH COURT OF KARNATAKA Official Liquidator of BPL Net Com Ltd. (In Liqn.) Versus Anil Bhandary Co. Application No. 1876 of 2007 Co. Petition No. 205 of 2001 JANUARY  24, 2013 ORDER 1. This application is filed by Official Liquidator under Section 543(1) of the Companies Act, 1956 read with Rule 260 of the Company (Court) Rules, 1959, contending inter alia that the Directors (respondents herein) of the Company (in liquidation) did not handover the Investments’ namely the Share Certificates as noted in the Audited Balance Sheet duly signed by the Ex-Directors in Schedule...